Discovering and Understanding "No".

Your product is great, so why do prospects say, "no"?

I often ask this question to clients and they're stumped. Everyone is lasar-focused on "yes" that "no" gets little attention.

When "no" happens, we quickly move onto the next prospect. It's like being at a party and unphased by people who don't want to dance.

But there's amazing insight from diving into "no". It's an opportunity to understand:

• The reasons why a prospect didn't buy from you

• If not you, who won their business and why

• What they liked and didn't like about your product

• How and why prospects make buying decisions

• How they discovered you and why they reached out"No" is painful and feels like rejection, which is why companies and entrepreneurs shy away it.

When you want growth, why focus on the negative?

That's the wrong approach because a better of understanding of "no" could make it easier and faster to get prospects to say "yes."

Now, that we've explored why why prospects say "no," let's look at how you get them to cough up the real reasons behind their decision? 

It’s a challenge—prospects often don’t want to hurt feelings or create awkwardness.

But without this feedback, you can’t adjust or improve your “yes” rates.

Here are several strategies to get honest feedback ex-prospects

Make It Easy to Share Feedback (Don’t Ask, Don’t Get)

Don’t hesitate to ask for feedback, even if it feels uncomfortable. Use a short, non-intrusive survey or a follow-up email. 

The simpler the process, the more likely prospects are to respond. Ask about specific areas such as product features, pricing, or the competitor they chose. 

I’m Not Trying to Change Your Mind…..

When asking for feedback, be clear that it’s not a sneaky sales pitch; you are seeking insights to improve your offerings. When prospects don’t feel pressured to change their decision, they’re more likely to share the "no."

Listen to Sales Pitches and Demos

Listen to sales pitches and demos (Gong, anyone?) to understand what prospects are saying and asking. This insight helps you see what’s resonating with prospects and what your competitors may be doing differently. 

Offer Incentives (aka Bribe Them)

Giving feedback takes time and effort, so offer prospects an incentive. It could be a Amazon gift card or a charity donation. A small gesture shows you value their thoughts and ideas.

These strategies can be a game changer for getting the truth from prospects who initially say "no."

Don't let a "no" be the end of the story - instead, view it as an opportunity to learn and grow.

Question: How do you gather insights from prospects who say “no”?

If you're a B2B SaaS companies looking to do marketing that makes sales happen faster and easier, we should tallk about how I can help as a fractional CMO and strategic advisor. Book a 100%, no-obligation, off-the-record discovery call.